The US Nuclear Regulatory Commission’s (NRC) has approved the Licence Termination Plan (LTP) for Holtec International’s Oyster Creek Generating Station in Lacey Township, New Jersey. With the decommissioning and dismantlement of the site more than half complete, NRC approval establishes the official roadmap for the final radiological cleanup and release of the site.
“We believe the NRC’s approval is a testament to the quality of our technical work, the strength of our regulatory engagement, and our culture of safety and accountability throughout the decommissioning process,” said Oyster Creek Site Vice President Jeff Dostal. “The approved LTP provides the roadmap for the final phase of decommissioning and site restoration. We will continue to execute the remaining work with the same discipline, professionalism, and focus on safety that have guided the project to date.”
Oyster Creek began producing electricity in December of 1969. It was the oldest operating commercial nuclear power plant in the US until it permanently shut down in September 2018, having produced more than 192 TWh of electricity over its lifetime.
Holtec International now plans to transform the retired Oyster Creek Generating Station into an advanced clean energy hub featuring small modular reactors (SMRs). The transition from a decommissioned asset to an active generation hub relies on a two-track redevelopment strategy. Holtec plans to construct four of its proprietary SMR-300 units at the site. The SMR-300 design is an advanced, passively safe, pressurised light water with a capacity of 300 MWe /1050 MWt and a design life of 80 years. It uses a single heat transfer circuit and houses a core of 69 Framatome GAIA fuel assemblies. Each assembly uses standard ceramic pellets containing up to 5% enriched uranium dioxide avoiding the need for specialised, hard-to-source fuels. The used fuel pool is located entirely inside the fortified containment structure.
The new configuration will deliver a combined 1,360 MWe – more than twice the 636 MWe capacity of the original plant, which ceased operations in 2018. Holtec has targeted 2036 for commercial operation of all four units. The project is classified in the “Development Phase,” conditional on state and local support, financing, and equity arrangements. The project was accelerated by lifting in April of New Jersey’s 40-year nuclear moratorium.
Because the site already has robust grid connections, Holtec is exploring the integration of AI data centres directly alongside the new nuclear facility to consume the baseload power. Redevelopment is expected to create 4,000 temporary construction jobs and over 400 permanent operational roles, boosting the local supply chain.
Holtec also plans to deploy two SMR-300 units (Pioneer-1 and Pioneer-2) at its Palisades NPP site in Michigan adjacent to the existing 800 MWe main plant. NRC has accepted Part 1 of Holtec’s phased construction permit application for review with Part 2 scheduled for submission by mid-2027. The NRC and the US Army Corps of Engineers are compiling a draft Environmental Impact Statement (EIS). NRC’s formal review schedule targets March 2027 for issuing the final safety evaluation and environmental impact reports. A decision regarding the Limited Work Authorisation (LWA) is slated for June 2027 after which nuclear island construction an begin.
In December 2025, the project received a $400m matching grant from the Department of Energy (DOE) specifically allocated to accelerate SMR-300 deployment. Holtec and its global construction partner, Hyundai Engineering & Construction, have completed early site clearing and geotechnical data collection. Following construction, Holtec intends to file an Operating Licence Application in 2028, with the units slated to begin commercial service in the early 2030s.
